Who Holds the World’s Gold? The 2024 Reserve Power Rankings

Global demand for gold continues to surge as central banks buy at historic levels, helping push the metal to record prices in 2025.

New data from BullionVault reveals which nations dominate global gold reserves, with the United States leading by a wide margin at 8,133.5 tonnes—worth more than $1 trillion—followed closely by Europe’s major economies, which collectively control over 60% of the world’s reported holdings.

Germany, Italy, and France maintain deep historical reserves rooted in the postwar Bretton Woods system, while China has rapidly expanded its stockpile to reduce reliance on the U.S. dollar and strengthen the yuan.

Emerging powers like India, Turkey, Poland, Uzbekistan, and Saudi Arabia are also expanding their reserves to buffer against inflation, currency volatility, and geopolitical risk.

The global race for gold reflects shifting economic priorities and the growing desire among nations to build financial resilience in an uncertain world.